Page 29 - Byju's
'Sponsor Byju's allegedly owes Rs 86 cr to BCCI, Paytm may exit as sponsor'
Indian cricket team's jersey sponsor Byju's allegedly owes Rs 86.21 crore as dues to the BCCI while title sponsor Paytm has requested the board to transfer its rights to a third party. It was only in April that the Edtech company and the BCCI had agreed on the extension of their partnership until the end of the 2023 ODI World Cup in India at a 10 percent increment. The issue was discussed by the BCCI Apex Council on Thursday. "As of today, Byju's owes dues of Rs 86.21 crore to the Board," a BCCI source told PTI after the meeting. However, a Byju's spokesperson told PTI: "We have extended the contract with the BCCI but it is not yet signed. After the contract signing is done, the payments will happen as per the contractual payment terms. So there are no dues pending from our side." Byju's first came on board back in 2019 when mobile manufacturer Oppo transferred the sponsorship rights to the online tutorial firm. The start-up last month said that 500 people have been laid after re
 "'Sponsor Byju's allegedly owes Rs 86 cr to BCCI, Paytm may exit as sponsor'")
Karti Chidambaram wants govt to probe edtech giant BYJU's finances
Congress MP Karti P. Chidambaram on Thursday said he has written a letter to the Serious Fraud Investigation Office (SFIO) to investigate the finances of edtech major BYJU
Facebook co-founder Eduardo Saverin's B Capital closes $250 mn fund
Ascent Fund II is B Capital's first dedicated early-stage fund. It invests in pre-seed through series A rounds globally, with an emphasis on the US and Asia, including India
 "Facebook co-founder Eduardo Saverin's B Capital closes $250 mn fund")
Centre pulls up edtech firms for mis-selling courses, IEC responds
Self-regulatory organisation India Edtech Consortium (IEC) on Saturday said it is committed to protecting consumer interest and has resolved 100 per cent complaints received till June
 "Centre pulls up edtech firms for mis-selling courses, IEC responds")
Ronnie Screwvala-led upGrad eyeing acquisitions in the US, Southeast Asia
As part of the acquisition strategy, upGrad Rekrut, a 100 per cent subsidiary of upGrad, has acquired Wolves India, a recruitment and staffing firm, for an undisclosed amount
 "Ronnie Screwvala-led upGrad eyeing acquisitions in the US, Southeast Asia")
Byju's struggles to close $800-mn funding as investors balk amid tech rout
Investors including Sumeru Ventures and little-known firm Oxshott haven't transferred about $250 million of the targeted amount because of 'macroeconomic reasons'
 "Byju's struggles to close $800-mn funding as investors balk amid tech rout")
Top headlines: SC sentences Mallya to 4 months in jail; rupee hits new low
The Supreme Court (SC) on Monday slapped a fine of Rs 2000 ($25) and a four-month jail sentence on fugitive businessman Vijay Mallya
 "Top headlines: SC sentences Mallya to 4 months in jail; rupee hits new low")
Byju's strengthens senior leadership in tech-first approach to growth
Early this year, Byju's had announced the appointment of Mani Bansal and Maneesh Agrawal to lead key tech functions in an effort towards strengthening its tech vertical
Fund-raising drive on track, majority of the $800 mn received, says Byju's
The firm said its payments to education firm Aakash for a $1-billion deal struck last year have concluded and the audited financial results will be out in 10 days
Top headlines: Fundraising on track, says Byju's; Shinde wins trust vote
Business Standard brings you top news of the evening
 "Top headlines: Fundraising on track, says Byju's; Shinde wins trust vote")
Byju's clears $950-mn payment to Aakash, completes $800-mn fund raise
Byju's founder and CEO Byju Raveendran has made a personal investment of $400 mn of the total $800 mn raised in the latest funding round by the edtech company
Byju's lays off 500 employees as part of cost-cutting drive: Report
The latest development at Byju's comes as the Indian edtech market is shrinking with reopening of schools, colleges and physical tuition centres
Byju's lays off 500 and may drop more people in latest edtech crisis
Recently, over 800 employees of WhiteHat Jr, resigned after being asked to work from office
Byju's offers to buy US-listed edtech firm 2U for over $1 billion
Byju's made the offer of about $15 a share to 2U's board last week, said the person, who asked not to be named as the bid isn't yet public
Byju's group firm Toppr lays off 1,100 employees in a day to cut costs
Toppr's sacked employees said that they got a call from the company on Monday and were asked to resign, failing which they will be terminated without any notice period.
 "Byju's group firm Toppr lays off 1,100 employees in a day to cut costs")
BYJU's-owned WhiteHat Jr lays off 300 employees in latest round of job cuts
Online coding provider WhiteHat Jr, the beleaguered platform under edtech giant BYJU's umbrella, has laid off around 300 employees, after more than 1,000 of its employees resigned
 "BYJU's-owned WhiteHat Jr lays off 300 employees in latest round of job cuts")
Krishna Vedati named as Byju's president for global growth and strategy
He will report to co-founder and CEO Byju Raveendran and join the company's executive committee
Edtech company Byju's pushes back payments for $1 billion acquisition
Blackstone, which owned 38 per cent of Aakash, opted to defer payments due until this year, one of the people said
Edtech firms build brick-and-mortar centres across India to woo students
Several are adopting a hybrid model of offline and online education to stay afloat, as students head back at school and colleges post pandemic
 "Edtech firms build brick-and-mortar centres across India to woo students")
BYJU's rejigs global team as part of expansion plan as edtech space shrinks
Edtech major BYJU's on Tuesday named Krishna Vedati as President of Global Growth and Strategic Initiatives, along with rejigging top leadership at K-12 creative coding platform Tynker